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U$93 Million produced by the Casino Admittance charge in the first half in Singapore | 21st July 2012: WorldCasinoYellowPages

U$93 Million produced by the Casino Admittance charge in the first half in Singapore

... 21 July 2012

As per information received from the Minister of State for the Finance Ministry, Josephine Toe, the entrance charges paid by the local residents at the two casinos of Singapore has produced an incredible amount worth S$93 million or $73 million in the first half in comparison to the last years’ collection of S$195 by the stable populace. During 2010 and 2011, the taxes paid by the Las Vegas Sand Corp. (LVS) and Genting Singapore Plc (GENS) to the state were around S$900 and S$1.1 billion respectively. Toe informed the officials that the large amounts of money earned by the casino operators contribute towards the State taxes also and the same were used in the development of assets of Singapore as well as in a number of welfare plots. Public is being asked by the government to give their views about restructuring of the Casino Control Act in order to minimize the criminal acts and enhance the social protection & management of tax. The plan will include restriction on the number of visits by the economically good people and highest fine on the cheating casinos. Further, Toe added that approximately two fold amount was utilized to control problem gambling during last year. The number of persons visiting the casinos six to ten times a month is about 4,000 to 6,000 and around 93,000 persons on the exclusion list are prohibited to visit the above two casinos. The ban put since last forty years was abolished by the State to reinforce tourism. An amount worth $10 billion or even more was spent by GENS and LVS for the development of two gaming sites that commenced in 2010 and that year witnessed the highest number of visitors as well as their expenses plus rate of gross domestic product advancement.

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